Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
Dollar Returns to Key Level but Risk Slide Looks More Convincing

Dollar Returns to Key Level but Risk Slide Looks More Convincing

Talking Points:

USDollar has dropped back to the same 12,150 level that took so long for bulls to clear

• Data and cross market performance suggest the USD slide is lacking for conviction

• Meanwhile, risk trends led by the S&P 500's impressive break below the 200-day SMA looks more intensive

Sign up for a free trial of DailyFX-Plus to have access to Trading Q&A's, educational webinars, updated speculative positioning measures, trading signals and much more!

The positive correlation returns. Both the Dollar and S&P 500 dropped this past session, but only one of these benchmarks carries the hallmarks of conviction to convince of follow through. From the Greenback indexes - both USDollar and DXY - the retreat is impressive technically; but the scope of the move lacks. EURUSD and AUDUSD were the most convincing anti-USD moves, but that was a reflection of strong (likely temporarily) counterparts. Across the market, the currency was mixed on a day of light but encouraging fundamental event risk. That draws the focus back to the 12,150 level that was critical resistance for 2015 until last Friday. Meanwhile, the S&P 500's slide below its 200-day moving average finds the push of hefty selling pressure in other assets that are typically attributed a 'risk' bearing. We consider this key moves and what it means for trading potential in today's Trading Video.

Sign up for John’s email distribution list, here.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.